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According to a 2017 study by McKinsey Global Institute (MGI) 2017 Study, around $10 trillion is spent on construction-related goods and services each year (MGI, 2017). But, despite being one of largest sectors in the world, productivity growth in construction has barely increased since 1945. MGI found many factors that contribute to this productivity lag including strict industry regulations, high fragmentation, and complexity. MGI concludes that “poor project management and execution, insufficient skills [and] inadequate design processes” (p. 8) are some results from these challenges facing the industry. The opportunity is huge; if leaders can start solving some of these challenges, MGI estimates the industry’s value added could rise by $1.6 trillion a year.
MGI identifies seven key focus areas that could help improve the construction productivity crisis. They include:
DEWALT is focused on improving on-site execution with digital technology with the launch of the Jobsite WiFi system. This WiFi system addresses on-site inefficiencies such as poor network connectivity and slow download speeds for large BIM files with the ruggedized, jobsite-ready Jobsite WiFi Access Point. This single-SKU solution can be scaled to fit even the largest jobsites and can continue to deliver reliable access to WiFi as building progresses. Critical digital tools like BIM files, drones, cameras, and other collaboration software can run smoothly and efficiently when connected to the Jobsite WiFi system, thus addressing some of the on-site execution challenges draining productivity.
Already deployed on over 2 million square feet and counting, the DEWALT Jobsite WiFi system is built for the construction sector with its durability, simplicity, and adaptability. Click the infographic below to get a sense of how connectivity and Jobsite WiFi may help your company.
*DEWALT is not an Internet Service Provider.
Source: McKinsey Global Institute, Reinventing construction: A route to higher productivity, February 2017